Dalian Wanda Chairman Wang Jianlin has already started the process of buying out the commercial-property company’s Hong Kong-listed shares and relisting the company on a mainland China stock exchange, according to a document prepared for potential fund investors. Wanda expects domestic investors will pay 20 times earnings for the commercial-property unit—called Dalian Wanda Commercial Properties Co.—versus the current Hong Kong market valuation of 5.8 times earnings over the last 12 months for the stock, according to the document. That means the company’s shares in total would be worth 500 billion yuan (US$77 billion) compared with 207.6 billion Hong Kong dollars (US$26.8 billion) before the buyout deal.

Wanda offered to buy out shareholders at HK$48 a share, the company said in an announcement to the Hong Kong stock exchange late last month, the same price investors paid in the company’s December 2014 initial public offering. The stock closed at HK$47.45 on Tuesday.